The Association of Professional Financial Advisers (APFA) has called for the fees charged by the Financial Conduct Authority (FCA) to reflect the recent drop in adviser numbers.
According to figures there was a 25% drop in adviser numbers between December 2011 and the end of January this year. A recent report from APFA, The Financial Adviser Market: In Numbers, showed there were just over 26,000 advisers at the end of 2011. Financial Services Authority (FSA) data released last week showed that this fell by almost a quarter to about 20,000 in January. APFA has called for this change to be acknowledged in the upcoming fees paper due for release next week by the newly-formed FCA. Policy director at APFA, Chris Hannant, said: "The adviser market today canno...
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